DigitalBridge Group (NYSE:DBRG) Trading Up 5.6% - Time to Buy?

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) shares were up 5.6% during mid-day trading on Thursday . The company traded as high as $16.80 and last traded at $16.71. Approximately 1,026,220 shares traded hands during trading, a decline of 55% from the average daily volume of 2,269,442 shares. The stock had previously closed at $15.82.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DBRG shares. Royal Bank of Canada restated an "outperform" rating and set a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Truist Financial decreased their target price on DigitalBridge Group from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Raymond James decreased their target price on DigitalBridge Group from $22.00 to $19.00 and set a "strong-buy" rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $19.22.

DigitalBridge Group Stock Up 5.1 %

The stock has a 50 day simple moving average of $13.81 and a 200 day simple moving average of $14.09. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.63 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. Equities analysts expect that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. DigitalBridge Group's dividend payout ratio (DPR) is presently 2.58%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC boosted its position in shares of DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company's stock valued at $30,000 after buying an additional 1,900 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of DigitalBridge Group during the third quarter valued at approximately $35,000. Blue Trust Inc. boosted its position in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company's stock valued at $51,000 after buying an additional 2,408 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company's stock valued at $102,000 after buying an additional 7,398 shares during the last quarter. Finally, Xponance Inc. bought a new stake in DigitalBridge Group during the second quarter worth $138,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

About DigitalBridge Group

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.